Charlty registration number 1152222 JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
JOHN WESTON STRErroN OF KIDDERMINSTER CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees C Slretlon SHLBrown D H Malcomson T Gulliv¢r E E Roberts P Newtick (Appointed 25 March 20241 Charity numb•r 1152222 Prlnclpal address MFG Soli¢rtor$ 20 . 21 The Tything Wwcesler INorcestershire WR1 1HD Independent examiner Ormerod RLrtter Limited The Oakley Kidderminster Road Droitwich Woreeslèrshire IThR9 9AY Sollcltors MFG Sc•licitors Tythe House 20-21 The Tythlng Wortester Worc•st8rshire WR1 1HD
JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY CONTENTS Page Tru$t&es' report IndeperKlent examinal$ report Statement of financial activithès Balance Sheet Notes to the financi81 statements 7-15
JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The trustees present their annual report and financial statements for the year efjded 31 August 2023. The financial stslemenls have been prepared in accordance with auntIng policies Set out in note 1 lo the fin2ncial statements and c¢ynply with the ¢harity's governing document, the Charities Act 2011 and Accounting and Reporting by Cttarilie5'. Statement of Recommended Practice applicable to charities preparin9 their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. Objectivgs and activities The principal objectives of the charity is lo provide schclarships for the 5bJdenls training as doctors at st Bartholomews Hospblal, Cambridge University or al Worcester University. Pursuant lo the terms of the will of Antony John Slrellon deceased and the Amended Declaration of TrLJsI d*ed 27th March 2023 the obje$ of the charity I'lhe objects,) are,. al For the public benefit to advance the education of people in all are89 of medic4 training practise and surgery in such way5 as the Twslees think fil. includirig by.. il Awarding lo Such persons scholership$, Mntenance allowances tsr grants tenable at Cambridge UThversity in respèct of medical training. ill Awarding to such persong scholarships. m8int8nanc@ allowances or giants tenable at St Barth0MeW'S Hosptal London. iiil Awarding to such persons sch)larships, maintenance allowances or 9rant6 tenable al the Three Counties Medical School at the University of Worcester In respect of medical training. iv) Setting up by 8ndowmenl or otherwise a Chalr al the Unlverslty of Cambridge or Sl Bartholomev/s Hosptlal London. vl To otherwise provlde fi'nancial support and benefft lo those named in il and lil and iiil above as the Trustees Ihlnk b5 Such other charllable purposes for the public benefit as are exclusively charitable according lo the laws of England and Wales as the trustees may from lime to lime delgrmine in accordance with the terms of the VVIII of Antony John Slretton deceased. Public benefit The Trusl$es have paid due regard lo guidanc8 issued by the Chafiiy Commission in deciding what activities th8 charity should undertake. Achlevements and performance SigniliL&nl aLtiviliès aclAi&veinenls agaiipsl (Je¢l&S Ouiing the period the Trusteès have concentrated their activities on promoting the availabiltty of funding lo assSsl medical students from Kiddeiminster and the surrounding aiea of the Counti8$ of Worceslershire and Midlands. The Trustees initially set geographic crilena based on residenre and sch(yol loration. During Ihe years the Trustee5 have been in contact with admissions staff 81 Cambridge UrtivÈrsily And the successor medical schools to Sl Bartholomews lo find students Currently studying al these institutions who match the geographic criteria. As 8 result of this exercise 18 students weie identtfied lo whom. after the Trnstèes had satisfied th8mselves that their applications were in order. grants We made.
JOHN WESTON STREThON OF KIDDERMINSTER CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Investment policy and perfomiance The Trustees invest the assels of the charity with the aim ensuring that the charitable objectwes of the charity may be fulfilled. The objective is lo generate Investment relums that will enable the charity lo commit lo providing funds by way of 5cholarship5 or bur5artes to medical students over the full six years of their training and to meet rts administration and support expen¥es. All decisions about the day-lo-day management of the assets have b&en tjelegated to the irweslment manag8rs via a written agreement. This delegation InclLhde3 de¢i$ions about.. Realisation of inveslrnenls Social. environmental and ethical consideration5 in the selection. retention and realisallon of investrnenls and the exclusion of certain se¢tors. The exercise of rights Iindu(Jing voling rights) attaching to the inveslmenls. Flnanclal revSew Dur¢ng the ye8r the charity made 8 net deficit of £49,22412022 - net deficit of £147,526). Al the year end the charity had nel assets of £3,720,06412022- net assets 01 £3,769,288). Going conceri? After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources lo ¢onlinue in operational existen for the foreseeable future. For this reason, they ¢onlinLSe to adopt the going concem basis in preparing the financial stalemenls. Further details reg8rd1ng the adoption of the going concern basis can be found in the Accounting Policies. RcsoThcs policy The Trustees. current policy 1$ lo build up incoffle reserve lo a level capable of sustaining the charivs planned annual av¢rage, when reached, of up lo 40 med11 students being funded for the remainder ol their six years of training. This equates lo approxmalely £120.000 of gran15 a year. Thè Trustèès are looking lo maximise thè investments income Ih?t they can obl8in to achieve this level of support. At the year ead the charity has total reserves of £3.720.064 {2022.' £3,769,288). Of this £79,839 12022.. £68,294) was unreslricled and £3.640.225 12022.. £3.700,9941 was held as an endowment lo generate future income for the charity. The charivs free reserves are equivalent lo unrestricted re$erv8s_ Struclurei governance and management The day lo day adminislralifjn trf Ihè trust has been delegated lo the clerk, who 15 a solicitor with acce85 to the facilities ol his former partn@rships. The Ttuslges met at least Qn¢9 aach quarter. Two committees meet f¥om time lo lime lo deal wr(h finance and other mallers in greater detsil, The charity works within a very focused area of activity. Its inve51menl$ ar8 managed by CCLA Investm&nl DAanagement Limited. The Trustees believe the charity complies with the governance suggestions set out in the Chafily Govemance Code for Smaller Charllies. The Trustees have tasked ils general subcomittee with revieKryng that Code and ensuring that the charity continues lo climply and that tha Trustées arè given whatevèr training is appmpriate to ensure the ¢onlinuiT)g compliance. The Trustees who are also the director5 lor the purpose of eompany law. and Endrf EndiQ who seryed during the year and up lo the date of signaluie of the flnandal slalemenls were". C Slrellon SHLBrow D H Malcomson T Gulliver E E Roberts P Newirick (Appointed 25 March 2024}
JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Recruitment 8nd 8pwI'nimonl ol tnJst8eS The management ol Ihe charity Is the responsibility ol the Truslees wts) ar8 olected ano eo-opl8d undw the temv3 01 the Trust dead made on 26 May 2013 and amended on 27th Mor¢h 2023. Related party Tèlationshlps The Trustees hav• made a provision for thè balance owed to the tharity by Str8tlons of Kidd8m¥nsier Lirnil8d. a subsidiciry comparny, The amount ol Ihe provision is equal lo the nel deficil on Ihe balance sheet of the subsidiary cornpany less £30.000 which will be released to Ihe company ur)tter the investment agreemenl it has with Teledu Telèsgop Cyf. 11 is the belief ol Ihe dimclors ol the subsidiary (xjmpzny that this arnounl win be released. Fhè iruslees. report was appfoved by Ihe Board ol Trustees. Dr D H Malcomson Trusleo 26 June 2024
JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY I fÈpDrt lo the Iruslg95 on rny examination of Ihe finzndal slalemanls of Jchn Weston Stretton ul KJddermln51¢r Charlty Ilhe chedtyl for the year ended 31 Augu512023. Responslbllltles and bas15 Ot report As thè trustee5 of the charfly you are re3rSIble for the prep8ratbn of th• fin8n¢l41 statem8nlJ It) 8¢cordgnce wllh the roqu1mEntS ol the ChafSlles Act 2011 Ilhts 2011 AGI). I r•prrti In respect of my ¢xamlnall¢n of Ihe ¢harllys financ181 sl8lemBnls carrled out under gecllcn 145 of the 2011 Act, ln ¢arrylng out my examlnauon I h8vo l¢llowed all the appllcable DlrecllonB glven by IhB Charlly Comml881on under se¢llon 1451511bl of11i8 2017 Act, Independent gxamlner's ststoment YDur attenllon is dr2Wn to the fact thal the tharily has prgpared Inandal ilalemertts In acc¢rdan¢e wlth A¢¢ounllng and Reporting by Charflle5 p paring thelr accounts in accordance wlh the Financial Reptsrung Standard appllcable in the UK and Republic ol IrolarKI IFRS 1021 In preference lo the Accounting and Reportlng by Charib'es.. Statement of Recommenttecj PracliE8 Ss5ued on ? April 2005 which Is Teferred to In the extant regulations but ha5 now been withdrawn. l (fftdersland that Ihis has btten done In order for fln¥nclal slalemen15 to provlde a Inje and falr vlew In acctsrdanGe wllh Generally Accepted Accountlng Practice elfectlve lor reportlng p6rlods boglnnlng on or aft8r 1 January 2015. I have completed my examlnatlon. I confirm that no matters havg comg lo my attenllon in ¢onnection with the ExatnlnalSon givin9 me cause to believe that in any material iaspecl.. seeaunlÉng rewrds were nDI kept In respect ol the charity as requlred by seclion 13Q of the 2011 Act.. or the financial slalements do not accord with those records.. or the financial stalemenis do not complw with the appllc?bl¢ re4utremenl$ concornin9 Ihv form and ¢¢nlent of accounts sei out in the Charitl¢s (Accounts and Reports} ftggulallons 2008 other than any wquirement thai th& accounts grve a Iruo and faSr vtaw whlch Is not a matter con51dered as part of an independent examlnadon. I have no concerns and hgve come &cros$ no other mattenb in connection with the exarninalion lo whth att¥ntion sliould b8 dr8wn Sn thls report In ordartts enable a PTaper understanding of the flnanci81 statement5 to be reached. Tony Ar¢her Ormerod Rutter Llmlt&d Lk- The Oakky Kldd8rmlns18r Road Oros¢wlcl) Worce8ter8hlre WR9 gAY
JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 Unrestrlcted EndovMent funds funds 2023 2023 Total Unrestslcted Endowment funds funds 2022 2022 Total 2023 2022 Notes Income from: Investments 101.414 101.414 100,651 100,651 Total Income 101.414 101,414 100,651 100.651 Expenditure on- Charilable activities 89.889 89.869 75,597 75.597 Total expendlturg 89.869 89,869 75.597 7S,597 Nel gainslllc*sses) on investments 160.7691 160.7691 {172,5801 1172,580) Net in¢omel{expenditurel and ovement in fund5 11.545 160.7891 149.2241 25,054 {172,5801 1147,526} Reconciliation of funds,. Fund balances at 1 Septémbèr 2022 68,294 3.700.994 3.769.288 43,240 3.873,574 3,91S,814 Fund tsalances at 31 August 2023 7g.839 3,640.225 3,720.064 68,294 3,700,994 3,769,288 The slalemenl of financial activitle5 includes all gains and losses recognised In the year. All income and expendf(ure derive frDm continuing activities.
JOHN WESTON STREThON OF KIDDERMINSTER CHARITY BALANCE SHEET ASAT31 AUGUST2023 2023 2022 FIMed aysets Inveslrnenls 11 3.521.667 3,582,436 Current a8sot¥ Deblors Cash al bank and in hand 13 107.812 119.563 107.741 108.027 227.375 215,788 Credltors: amounts lalllng du• wlthin one ytrar 14 11,104} 12.1901 Nel ¢drfenl a55915 226.271 213.578 Total assglts lèss ctsrrgnl Ilabllltles 3.747.938 3,796,014 Provislons for liabi51ties 15 127.8741 126,726} Net assots 3,720.064 3,769,288 C•pital hjnds £ndowmf3nt funds . goner81 Income lunds Unrestficted lund8 16 3,640.225 3,700,994 79.839 68.294 3,720,Q64 3.769.288 The financtal sfal*Mients wère approved by Ihe Trustees on 26 Jtsne 20241 DT D H hrfalcofftson Truslee
JOHN WESTON STRErroN OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 AGGountlng polic1¢$ harity information John Weston Strellon of Kidd&miinst8r Ch*rty is a thartly registerèd In England and Wales and is governed by ils constitution adopted on 28 May 2013. The principle addiess is Twhe House. 20-21 Thè Tything. Worcester, Worcestershire, WR1 1 HD. 1.1 AcGountlng conventlon The financial slalemenls have been prepared in accordance with the charity's goveming document, the Charities Act 2011, FRS 102 'The Financial Reportlng Standard applicable in the UK and Republic of Ileland" I FRS 102,1 and thè Chaiiti@s SORP Accounting and RepDrting by Charili8s- Statement of Recommended Practice applicable lo charities preparing theiT accounts in 8c¢ord8nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191, The charity is a Publi Bgnafil Entity as defined by FRS 102. The charity has tsken advantage of the provisions in the SORP for charilies not lo prepare a Slalenent of Cash Flows. The financial stalemenls have departed from the Charities IA¢¢ounts and R6portsl Regulations 2008 only to the extent required to provide a true and fair view_ This deparlure has involved followng the Statement of Remmended Practice for eharilies applying FRS 102 rather than the version of the Slalement of RÈeommènded Practice whlch Is referred to in the Regulations but which has since been withdrawn, The financial statem8nts are Prepared in sterling, which is the functional currency ol the charity. Monetary amounts in these financial Statements are roUn(d to the nearest £. The flnancial slalemenls have been prepared under the historical cost convention, modified lo include the revaluation of fr8ehold propertl8s and to include investment properti¢s and certain financial Instruments at fair V8lue. The principal accounting policies adopted are sel out belc>w. 1.2 Gobng concern At the time of approving ihe financial statemènts, thè tnJst88s have a r@asonable expectation that the charity has adequate resources to continue in opèrational existence for the lore5eeable fuluie. Thus the trustees continue lo adopt the golng CC•ncern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available fgr use al the discretion of the Iruslees in fvrtherance of their charitable Llbjethives. Rèstrictèd funds are subject to specific condibons by donors or grantors as to hc)w they may be used. The purposes and use5 01 the reslrKled fund3 are sel out in the notes to the financial statements. Endowment funds ar6 sublecl lo specrfic cotiOnS by donors that the capital musl be maintained by the charity. 1.4 Incgme IncorNe is ieco9nised when the charity is legally entitled to il after any performanco ¢ondilions have been met, the amount5 Can be measured reliably, and it Is probable that income will be recetved. Legacies are recognised on receipt or olhernvise if the charity has been nots'fied of an impending distribution, the amournl is known, and r8ceipl is expeGled. 11 the atnount is not known, the legacy is Irealed as a conb"ngent asset Income lax recoverable in relation tu investment income is recognised al the lime the investment income i¥ receiv¥bl¢.
JOHN WESTON STRErroN OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 A¢Gounting policles Icontlnuodl 1.5 Expenditure Expendilui? Is re¢ognÉ$ed on¢e Ih8rè is a legal or constructive obllgallon lo transfer economic beneflt to a third party, it is prob8ble that a transfer of economic benefits will be required in settletnenl, and the arnount of the Olgation can be measured reliably. ExpenditLJre is classified by 8cts'vity. The costs of eh tiVIty are made up of the lolal of dir8cl costs and shared costs, including support Costs involved in undertaking èach activity. Direct ujsls attributable to a single activity are allocated directly to that aclivily. Shared costs which contribute lo more than one activity and support costs which arè nat attributable to a single activity are apportioned between thosè actsvities on a basis consistent with the use Of resources. CenlTal staff co$ls ar? allocalecl on the basis of lirne spent. and depreciation Charges are allocated on the porliun of the asset's use. Charitable activi118s and Govemance G05ts aw costs incurred on tho charity's educational operations, indudin9 SUPPOrt Costs and c051s relating to the govemgnc8 of charty apportioned to charitable aclivrties. Gr8nts payable are Charged In the year when the offer 15 ade ex¢ept in these cases where the offer is conditional. such giants being recognised as expendilure vihen the conditions allaching are fulfilled. Grants offeTed subject to conditions which have not beén mel at the year end ale noted as a Gommilmenl. but not acerued as expendilure. 1.6 Flxed asset Investments Fixeol asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured al fair value at each reporting dale. Changes in fair value are recognised in net incomeilexpendilurel for the year. Transaction costs are expensed as incurred. 1.7 Ca$h and cash equiv&nts Cash and cash equivalents indude cash th hand. deposits held al call with banks, other short-lerm liquid investments th Origin maturities of three wonths or $8. and bank ovérdrafts. Bank oveidrafts are shown wiIN"n borrowings in current liabilities. 1.8 Flnanclal Instruments The charity has elected to apply the pmvisions Df Section 11 'Basic Financial InstruThents' and SectioTrn 12 'Olher Financial Instruments Issueb. of FRS 102 to all of ils financial instrurnenls. Financial instrumen15 are re¢ognisèd in th& charills balance 8heet when the chaTity becomes party to the conlractugl provisions of the inslrumenl, Financial assets and liabi5i1185 am offset. wf(h the nel amount5 presented in the fi'nancial slal¢metrts, whgn there is y legally enforceable right to set off the reco9nised amount5 thère is an intention to setU@ an B net basis or to realise the asset and settle the Iiaknlily simultaneously. BasiTC financial assets Basic financial assets, vthich include debtor¥ and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carr*d al amortlsed cost usirg the effedve interest Thethod unless the airangemenl conslilules a financin9 tratbS3Glion, wheré thè Irar15aCtiOn 15 measured at the present value ol Ihe fu.ure receipts discounted al a m8rkél rate ol interest Financial assels classified as receivable wlthin one year are not amortlsed.
JOHN WESTON STREThON OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcles IContlnued} Basic financial liabilities Basi¢ financial liabilities: includlng creditors and bank loans are initially recognised al transadion price unless the artangemenl constitutes a financtng Iiansadion, where the debt instrument is measured al the present value of the future payments discounted al a market rate of interesL Financial liabilitie5 dassrfied as payable wilhln one year are not amortised. Dèbt instruments are subsequènlly carried at amorbsed cost. using the effective interest rale Tnethod. Trade creditors are obligats'ons lo pay ft)r goods or satvices that havè been acquired in the ordinary cour58 of oper8tions from suppliers. Amounts pay8bl& are classified as current liabilrties if payment is due within one year or less. 11 not. they afe presenled as non-current liabilities. Trade creditors are recognised initially al transaction price and subsoqu¢nlly m$asur$d al amortisgd cost using the effective interest method. Dorecognition of financial liabilitie5 Financial liabilities are derecognised when the charity's contractual obligabons expire or a dlscharged or canc611èd. 1.9 Provisions Provi&ons ar• racognisod whgn Ihe tharily has a legal or eonslructlve present oN1gali as a result of a past event, il is probable that the charity wll be required lo setlle tha* obligation arKI a reliable estirllalè ¢an be made of the amount of the Dbligalion. The amount recognised as a provision is the best estr'maltr of tha con5ider8tion required to settl• th• present obligalion at the reporting end date, taking into 8ccounl the risks Bnd uncertainties surrounding the obligation. Where the effect of the lime value of money is material, the amount expected lo be required to settle the obligation is recognised al wesenl value. Whgn a provision is measured al present value, the unwinding of the discount 15 recognt5ed as 3 finance cost in net incom8lleJ(penditurel in the period in which tt ase5. Critlcal aecounting estlmates and judgements In Ihe application of the charity's accounlbng polieies, the trustees are required lo make judgements. estimates and assumption5 about the carrying amount of assets and liabilities that are not rtradily apparent from other sources. The estimates and associated a3sutnplion5 are basèd on historical experience and other factors that are considered lo be relevant. Actual results may diffef from these eslirnales. The estimates and undedyin9 assumptions ar8 reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period In thi¢ the estimate is revised where the revision affects only that period. or In the period of the revision and future periods where the ievlsion affects both current and future period5. Income from investments Unrestricted Unrestricted funds funds 2023 2022 Income from listed Investments 101.414 100.851
JOHN WESTON STREThON OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Charitable activities Grant Grant fundlng of fundlng of actl¥llie5 activitios 2023 2022 Grwt funding Df activities (see note 51 72.120 57.QQO Share Df support costs (see note 61 Sh8re uf governance costs Is8* note 6) 1.735 16.014 2.432 16.165 89.869 75.597 Grants payable GTant Grant funding of fundlng of aGtivlties a¢tivitl85 2023 2022 Grants to individuals 72,120 57.OCIO 72,120 57.OCIO Support costs allocated to activitios Total 2023 Total 2022 Provision of intgrcompany debt Insurance 8Hnk charges Marketing Governan 1,14B 522 887 483 12 1.f150 16.165 66 16,014 17,750 ie.597 10-
JOHN WESTON STREThON OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Support costs allocated to activities {Contlnuodl 2023 2022 Governance costs comprise.. Independent examiner¥ fee Piofessional fees 1,014 15,000 1,152 15,013 16.014 18,165 Employoos 2023 Number 2022 Number Total There were no employee5 whose annual remuneiation was more than £60,000. Rèmunèratlon of key management P8rsonn•l The k8y management personnel of the charity consists of the Trustees and th@ clerk. The key manag@m8nl personnel are not employees of the charity as the charity has no employees. The total remuneration paid to key rnanagemenl personnel during th• year was £15,00012022-. £15.0001. Trustees None of the Iruslees lor any persons connected with them} received any rernuneralion or benefits from Ihe charity during the year {2022'. nill. Gains and 10s$es on investments Endowvnent Endowment funds funds 2023 2022 Gainsl{losse5I arising oll.. Revaluats'on of investments 160,7691 1172.5801 10 TJxatlon The charity is exempl trom taxation on its activities because all il¥ income is applied for charitsblè purposes. 11
JOHN WESTON STRETTON OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 11 Fixed asset investrnents Llsted Investrnents C06t or valuation Al 1 September 2022 Valu8tiDn changes 3,582,43S 160.7691 Al 31 August 2023 3.521.SS7 Carrylng amount At 31 August 2023 3.521.867 At 31 August 2022 3.582,438 13 Debtors 2023 2022 Amounts falllng due wlthln one year". Amounts owed by sub$idtary undèrtaklngs 107.812 107,741 14 Creditors., amounts falllng due wlthln onè year 2023 2022 Accruals and deferred income 1,104 2.190 12-
JOHN WESTON STREThON OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 15 Provisions for liabilities 2023 2022 PrOViOn for inlercomp8ny debt 27,874 26.728 Movements on provision$". Provlslon for Intèrcompany dèbt Al 1 September 2022 Additional provisions In the year 26.726 1,148 At 31 August 2023 27.874 16 Endowrnent fvnds Endowment funds represent assets which must be held rmanentlY by the charity. Income arising on thè enclowmenl funds Can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At1 September 2022 Galns and At 31 Augu$t 1055es 2023 Perm8nent endowments Endowment Funds- all fund5 3,700.994 160.7691 3,640,225 PievSou$ yoar: At1 September 2021 Galns and At 31 August losses 2022 Permanent endowments Endowment Funds- all funds 3,873,574 1172,580) 3,700,994
JOHN WESTON STREThON OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 17 Analysis of net assets between funds Unrestrlctèd Endowment fund5 fund$ 2023 2023 Total Unrestrided Endowment funds lunds 2022 2022 Total 2023 2022 Fd balances al 31 August 2023 are represented by.. Inve51men15 CurTent asselsllliabilitiesl Provigon5 3,521,667 118,558 3.521,667 226.271 {27,8741 3.582.436 118,558 3.582.436 213,578 126.7261 107,713 127,874} 95,020 126.7261 79.839 3,640,225 3.720,064 e8,294 3,700,994 3.789.288 18 Vnrestricted funds The unrestrided lund5 of the charity comprise the unexpended balances of donations and gran13 which are not subject to specific Conditn$ by donors and grantors as lo how they may be used. These indude d8signated funds which have been Set aside out of unrestricted funds by the trustees for specific purpose$. At1 September 2022 Incoming Resources At 31 August resources expended 2023 General funds 68.294 101,414 189,869} 79,839 Prevlou5 year: At1 September 2021 Ineomlng Resourcfjs At 31 August rèsour¢fr$ expended 2022 General funds 43.240 100,651 175.597} 68.294 19 Related party transaction¥ The key management personnel of the eharity consists of the Trustees and the clerk. The key management personnel are Dol gmploye•s of the charity as the charity has no empbyees. The total remuneration paid to key management personnel during the year was £15,00012022.' £15,000). Transactlons with related partles During the year the charity entered into the followin9 Ir8nsa¢lions with relat8d parties.. 14-
JOHN WESTON STRErroN OF KIDDERMINSTER CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 19 Related party Iransactlons (Continued) The followlng amounts were oulslanding at the reportSng end dale.. Amounts Amoumts owed ¢)wed by by related relatsd parties parties 2023 2022 8alancÈ Balance Slrellons of Kljderminsler Llmlted {subsidiaryi 107,812 107,741 107.812 107.741 15-